If I have a house with value of $100k, can I sell it for $106k & use the $6k for closing costs?

Answer 1

Yes you can sell it for more than sale price. But if your appraisal is only at 100k than the buyer will only be able to finance 100K.

Good about what your doing:
Bring the value to homes in your area up. They will use your house as comparable.
Bad about what your doing: stated above

Also if your going to do this than make sure that you state in the purchase contract either the following:
Seller to contribute $6,000 to buyers recurring and nonrecurring closing costs.

Answer 2

i agree mostly with golden bear loan. what you sell it for is determined by an appraisal. a good appraiser will give you true market value which may be more than , less than or equal too the sales price. but you need to state that you are paying the closing costs. that has become more typically lately and a good selling point. good luck

Answer 3

Are you serious? The value is determined by the surrounding homes in your area. However you can TRY to sell your home for whatever you want. It's up to the buyer to pay your price.

Answer 4

as long as it appraises & the lender knows that you are kicking back the $6k to pay the closing costs for the deal, then sure.

Answer 5

You can sell it for what ever you can get for it but, a lender won't lend for more than it's appraised value.

Answer 6

When I sold my condo, the buyer paid the closing costs.

When I bought my condo, I paid the closing costs.

Answer 7

Unless you're selling in a seller's market, you won't sell for more than it's worth. Then again, whatever you manage to sell it for is what it's worth.